Teaching Value Creation
You might have noticed our main Value Creation discussion in education has focused on business
schools. In fact we are developing course content for a Value Creation major in MBA schools.
A few days ago, I had a discussion with an Economics Professor. She was telling me about the various
courses she teaches. I asked her if she talked about Value Creation to her students. How would they use
their knowledge? How would they create value for themselves, their employers, and the society at large?
Her eyes sparkled with interest. This was a new facet of teaching she had never thought about. She felt it
was a great idea, and something she must include in her teaching.
She asked about simple examples of Value Creation she could give her class. I told her about my
assistant who sent an Income tax notice on my behalf to my tax lawyer. A few days later, I asked him if he
had confirmed if the tax lawyer was going to attend the hearing, He had not. If he had confirmed the
attendance of the tax lawyer, he would have created value for me. You can find so many examples of
value creation. A customer services person solves a problem for me. He realises this problem is
prevalent, but he does not try to get the company to change the process/procedure so that other
customers do not face the same problem I did. He missed a chance to create value for the customers, his
company and himself.
There are just as many examples of value destruction. The run around you get when you call a company
to complain is a typical example. A taxi cab that comes later than ordered and makes you almost miss a
plane. A service person who does not arrive when promised. The list is endless.
The first step to companies and executives converting to Value Creation is awareness. Awareness that
they can create or destroy value, and what they can do to create value is necessary and has to be taught.
The concept has to be taught to college faculty, and to companies’ senior executives, so that they can
teach value creation and set up an enabling environment.
What do you think? We welcome your comments.